let's see if next week we get a huge breakout above 264.11 and putting to validity to what I pointed out: a giant inverse H&S
Do I think I'm smarter than a group of investors who've invested in a company that 1) has decelerating sales, 2) declining operating margins, 3) declining net margins, 4) declining eps, 5) declining competitive advantage due to sales taxes, 6) strong competition ( Walmart in retail, Google, MSFT, Oracle, ect in cloud computing and Apple in tables).
How do you know I've lost $$$. In truth, I've lost some $$$ but hope to make asymmetrical returns when AMZN tanks.
Every time I hear someone take about making money being long AMZN I think of the housing market in 2006 - 2007. I had friends that bought way above their means. Before the crash, they encouraged me to do the same. According to them, this was easy money as the housing market was going up 10% to 20%. Well I never did buy over my means and I still have my home. I know a lot of people who don't.
Just because you've made money in the past doesn't mean you're going to make money in the future off of AMZN.
Ask yourself why you're long. If its based on fundamentals, stay long. If its based on the stock price rising in the past, you're going to get burned.